Risotto with Ham

1/2 stick butter or margarine
1 1/2 cups rice
31/2 cups hot chicken or beef broth
Pepper to taste, see note
1 cup ham, diced

Melt butter in large heavy skillet; add rice; cook until rice is slightly golden. Add broth and salt and pepper and ham. Cover tightly and simmer gently 40 minutes or until rice is fluffy and all liquid is absorbed.